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A company reports cost information for its first year of operations below. It produced 125,000 units, and sold 95,000 units at a price of $365 per unit. Variable overhead $ 42 per unit Fixed overhead $ 7,500, 000 per year Variable selling and administrative expenses $ 12 per unit Fixed selling and administrative expenses $ 5, 250, 000 per year Direct materials $ 50 per unit Direct labor $ 66 per unit Enter answers in the tabs below. Required 1 Required 2 Use absorption costing to prepare this year's income statement. Income Statement (Absorption Costing) $ 0